GFLB announcement: Bally’s, Resorts World and Metropolitan Park approved
After two years of consultations, public hearings and operator meetings, the New York Gaming Facility Location Board (GFLB) has announced its support for Bally’s Casino, Resorts World and Hard Rock’s Metropolitan Park in their quests for state casino licenses.
News comes by way of a live-streamed meeting hosted by GFLB members, where five officials representing the organization unanimously affirmed their favor for all three remaining bidders.
Although significant, this move does not automatically mean that each of the triad will immediately obtain certification. That is a matter for the New York State Gaming Commission to consider – and a decision is expected by December 31.
What does the GFLB’s backing mean for NY casino bidders?
In 2022, state legislators revealed that three new casino licenses would be made available to operators. That maneuver paved the way for a battle between 11 entities – which later became eight, then four and finally three.
It was the responsibility of the GFLB to determine which proposal best generated economic development for communities, delivered proper workforce enhancement, met diversity frameworks and complied with local siting concerns and recommendations.
The body’s endorsement of both Queens-based venues, Resorts World and Metropolitan Park, as well as Bally’s in The Bronx, effectively concludes the race for a state license – with all three adequately addressing the GFLB’s aforementioned key criteria.
However, as stated by GFLB Chair, Vicki Been, during a post-meeting press conference, the declaration of support does not equate to licenses being “rubber-stamped“.
GFLB casino announcement met by vocal protesters
While modeling shows that New York could gain $5.9bn in amenity tax revenue and $7bn in gaming tax revenue by 2036, as a result of distributing these three licenses, anti-casino protesters remain firmly opposed to the integration of any new gambling facilities.
As much was proven during the GFLB announcement on December 1. When the Board revealed that it would support bids for each of the state’s three interested parties, protesters erupted in unison, chanting “Shame on you!” before exiting the venue.
And, during the GFLB visit to Hard Rock’s Metropolitan Park, protesters lofted banners objecting to the site’s construction.
Been – who has stood as a GFLB member since 2022 – explained that: “There will always be conflict over any major change in land-use“, and that: “The goal of the Board was to try and be as thoughtful and as expansive about those conflicts as we possibly could.”
Further, the Chair outlined that her team remained “very sensitive to the very real-world concerns” held by protesters throughout the consultation process.
Underlining this fact is that the GFLB pushed both the State Gaming Commission and its applicants to follow Europe’s lead when it comes to addressing problem gambling, by “actually intervening and trying to help” on the ground floor.
Applicants must meet “ambitious” commitments, says GFLB
According to GFLB member Greg Reimers, “no alternative scenarios produced comparable revenue or fiscal benefits” when contrasted with licensing each of Resorts World, Bally’s and Hard Rock.
Reimers asserted the importance for applicants to “fully deliver” on what the board described as “ambitious” commitments – and expressed that a selection of concerns would be divulged in a formal document.
Also noteworthy was that, after encouraging applicants to be as “conservative” as possible, consultants remained dubious of earnings claims made by bidders.
As such, Been confirmed that expectations are set by consultants’ views, and not those promoted by applicants.
The GFLB concluded with a word on potential market degradation and subsequent resilience, stating: “Even if it declined, the market is strong enough to deliver these kinds of projections” – pointing to the diversity in amenities, facilities and goals of the three state contestants.
What next for Resorts World, Bally’s and Metropolitan Park?
Now that the GFLB has formally backed Resorts World, Bally’s and Hard Rock for casino licenses in New York, it is up to the State Gaming Commission to determine which, if any, shall obtain certification on December 31.
Indicating the steep task ahead for operators, Been illustrated the Gaming Commission’s “exacting, thorough and tough” provisions – such as “character and fitness” and “ability to deliver“.
“They (NY State Gaming Commission) ask the right questions, they evaluate information in an incredibly perceptive way,” said Been.
And, when pressed by reporters on whether the bids carried “strong odds” of succeeding, the GFLB Chair humorously responded that she is “not a betting person“.
Should applicant(s) acquire a license following imminent State Gaming Commission review, they will need to pay a $500m minimum licensing fee.
In its application, Genting-owned Resorts World offered to pledge an extra $100m to that entry cost – totaling $600m in licensing tariffs alone.
Bidders voice excitement ahead of crucial New Year’s Eve decision
In a public statement, President of Genting Americas East Robert DeSalvio alluded to the momentous nature of the GFLB announcement: “Resorts World New York City’s journey to this historic moment represents more than 15 years of work to generate jobs, revenue and opportunities for our neighbors.”
Doubling down on the group’s rapid speed to market, DeSalvio expanded: “Resorts World New York City’s $7.5bn proposal is the only bid that can expand operations in just 90 days.
“We are thankful the Gaming Facility Location Board recognized the tremendous economic impact we will have for New York State.”
Bally’s also communicated its satisfaction through spokesperson Lauren Westerfield: “Our team has worked closely with community leaders, union partners and local stakeholders to build a project that delivers real jobs, lasting economic benefits and a world-class entertainment destination for the Bronx.
“We are grateful for the Board’s confidence and look forward to working with the Gaming Commission as the process moves to its next phase.”
Meanwhile, Metropolitan Park representative Karl Rickett dubbed the GFLB review a “fair, transparent and rigorous process” and posited that the board’s support “validated the positive economic impact this project will have with billions of dollars in tax revenue.”
If granted a license, Resorts World expects to open its doors in March 2026, while both Bally’s and Hard Rock at Metropolitan Park are targeting a 2030 launch.
